To update/correct the Unused Net Capital Losses amount (per your latest Notice of Assessment(s)) from what was carried forward by Turbo Tax from the previous year's return, and, you are using the forms method for Downloaded Turbo Tax (ie. loaded on your computer);
> open the Loss Worksheet
> go to Net Capital Losses table
> go to Net Capital Losses column
> go to applicable row (in most cases this will be the 2001-2020 (ie. current year))
> revise the amount (it is in black font so it is a field that can be directly edited without impacting Net Filing)
> this will change the subsequent columns accordingly in that row and will update the amount carry forwarded to subsequent years you use Turbo Tax and the carryforward feature
These updates/changes can be required particularly if you filed a T1A Loss Carry Back subsequent to filing your taxes and receiving your initial NofA for the current year. You will then receive a Notice of Reassessement for any of the three past years you applied the T1A and those NofRA(s) will indicate your current Unused Net Capital Loss amount.
